Recently, according to the PV Ranking List of the United States released by Global Test Market (GTM), a world-leading market research information provider, REC Solar, an overseas company affiliated to Bluestar, has grown by leaps and bounds in the United States, and had grown into the third largest solar panel supplier in the residential market of the United States by the first half of 2015.
According to the sampling report, the share of REC Solar in the residential PV market is expected to rise to 14% in 2015, a significant growth compared with 2.7% of the first quarter of 2014 and 6% of the fourth quarter of the same year. According to the data of the first quarter of 2015, the total installed capacity of REC Solar in California is predicted to reach 22.5MW, and the quantity of power supply of the company runs ahead of that of its competitors in the residential market of California.
The Management of REC Solar believes that the steady growth of the company in the cutthroat solar energy market in the United States is due to the continuous cost reduction and the unremitting efforts in tapping the potential market. REC Solar has been seeking to sign orders with utility companies of the United States, and has signed important supply contracts with SolarCity Corp., the largest residential solar system installation service provider in the United States, and Sunrun Inc., the second largest home PV power generation service provider in the United States. REC Solar CEO Steve O’Neil said that the total business volume of REC Solar in the United States accounts for half of the shipment of the company and it is estimated that PV panels with a total capacity of 818MW will be provided for residential, commercial and public utility clients in 2015 and 2016, indicating that there is still a strong demand for high-quality PV panel for the company. In addition, REC Solar chooses Singapore as its production base, which avoids prohibitive duties and helps itself maintain market competitiveness in the United States.